Production and Consumption of Natural Gas in China and Its Prospects

Abstract

AbstractIn 2020, affected by the COVID-19, the growth of China’s natural gas consumption slowed down. The growth rate of major gas industries such as urban gas, industrial gas, power generation, fertilizer and chemical industry slowed down to varying degrees compared with the previous year, among which the growth rate of industrial and power generation gas was relatively fast. The growth rate of natural gas consumption in various regions also dropped significantly. Gas suppliers actively carry out the Seven-year Action Plan for Enhancing Reserve and Productivity, and the domestic natural gas production has increased rapidly. Affected by the rapid growth of domestic gas and the slowdown of demand growth, the growth rate of China’s natural gas imports dropped significantly, among which pipeline gas imports showed negative growth for the first time. At the initial stage of peak shaving, the system construction progressed steadily. In the whole year, the natural gas market showed loose supply and demand. Looking forward to 2021, the growth rate of China’s natural gas consumption will rebound, the domestic natural gas will grow rapidly, and the growth rate of natural gas imports will pick up. During the 14th Five-Year Plan period, China’s natural gas will continue to grow rapidly, but the growth rate will slow down.KeywordsNatural gas consumptionDomestic gas productionImport pipeline gasImport LNGOutlook